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FCA US profits declared

by David Zatz on

The former Chrysler Group, now FCA US LLC, reported adjusted net income of $2.4 billion for the full year 2014, up 31% from a year ago. Net income, after “unfavorable infrequent items” including the purchase of the rest of Chrysler, was $1.2 billion.

Net income for 2013 was $2.8 billion, including a net favorable effect from infrequent items, including $962 million in “release of valuation allowances on deferred tax assets.”

FCA-Chrysler-Hilite-Web

Net revenue grew by 15% to $83.1 billion, modified operating profit rose 10% to $3.5 billion, and free cash flow for the year rose from $2.1 billion in 2013 to $3.3 billion in 2014.  The company ended up with $1.8 billion in net industrial cash at the end of the year, nearly double the amount from the end of 2013.

Overall, the former Chrysler Group shipped 2.6 million vehicles in 2013 and 2.9 million in 2014, a 12% increase; worldwide sales were 2.8 million sales, up 15%.

Market share in the US rose from 11.4% to 12.4%, while market share in Canada rose from 14.6% to 15.4%.  Some of this was due to a shortage in F-150 pickups at Ford, as well as full production of the “KL” Cherokee.

More information is due during a press conference starting in around ten minutes.

David Zatz founded Allpar in 1998 (based on a site he had begun in 1993-94), after years of writing reviews for retail trades. He has been quoted by the New York Times, the Daily Telegraph, the Detroit News, and USA Today. Before making Allpar a full-time career, he was a consultant in organizational psychology. You can reach him by using our contact form (much preferred) or by calling (313) 766-2304


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